Equinor ASA (NYSE:EQNR) Shares Gap Down – What’s Next?

Equinor ASA (NYSE:EQNR) shares gapped down before the market opened on Monday. The stock had previously closed at $48.75, but opened at $46.31. Equinor ASA shares last traded at $46.1610, with a volume of 1,402,595 shares trading hands.

Wall Street Analysts Forecast Growth

EQNR has been the subject of a number of research analyst reports. Royal Bank Of Canada upgraded shares of Equinor ASA from an “underperform” rating to a “sector perform” rating in a research note on Thursday, July 23rd. TD Cowen increased their price objective on shares of Equinor ASA from $38.00 to $41.00 and gave the company a “hold” rating in a research report on Monday, September 28th. Wall Street Zen cut shares of Equinor ASA from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Equinor ASA in a research report on Wednesday, October 21st. Finally, Zacks Research upgraded shares of Equinor ASA from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $43.47.

Equinor ASA Stock Up 0.4%

The stock has a market cap of $109.02 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 1.27 and a beta of 0.12. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 1.16. The company’s 50-day moving average price is $44.15 and its 200 day moving average price is $37.64.

Equinor ASA (NYSE:EQNR) last issued its quarterly earnings data on Tuesday, October 27th. The company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.18). The business had revenue of $32.96 billion during the quarter, compared to the consensus estimate of $33.30 billion. Equinor ASA had a return on equity of 27.45% and a net margin of 9.71%. As a group, analysts forecast that Equinor ASA will post 5.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EQNR. Arrowstreet Capital Limited Partnership raised its holdings in Equinor ASA by 599.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 12,966,671 shares of the company’s stock valued at $547,194,000 after acquiring an additional 11,112,362 shares during the period. Euro Pacific Asset Management LLC lifted its position in shares of Equinor ASA by 33.2% in the third quarter. Euro Pacific Asset Management LLC now owns 414,023 shares of the company’s stock valued at $17,776,000 after acquiring an additional 103,197 shares in the last quarter. Quantinno Capital Management LP grew its position in shares of Equinor ASA by 21.2% during the first quarter. Quantinno Capital Management LP now owns 220,132 shares of the company’s stock worth $9,290,000 after purchasing an additional 38,522 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Equinor ASA during the first quarter worth about $8,745,000. Finally, Jennison Associates LLC bought a new stake in Equinor ASA during the 1st quarter valued at approximately $8,582,000. 5.51% of the stock is currently owned by institutional investors.

About Equinor ASA

Equinor ASA is a Norwegian energy company headquartered in Stavanger, Norway. Founded in 1972 as Den norske stats oljeselskap, the company was later known as Statoil and StatoilHydro before adopting the Equinor name in 2018. The Norwegian state remains its largest shareholder.

Equinor’s core business is the exploration, development, production and marketing of oil and natural gas, with Norway’s continental shelf serving as its principal operating area. The company also processes and markets energy products and supplies natural gas and crude oil to customers in Europe and other international markets.

In addition to its oil and gas operations, Equinor is developing lower-carbon energy businesses, including offshore wind, solar power, carbon capture and storage, and other renewable energy projects.